Global physical security market growth is driven by rising terrorism and crime rates worldwide. Physical security includes video surveillance, access control, intrusion and fire detection, and other systems that safeguard critical infrastructure and assets from unauthorized physical access and risks. With increasing instances of cyber-attacks, commercial buildings, government agencies, manufacturing facilities, and other establishments are recognizing the importance of comprehensive physical security systems that function as the first line of defense. Furthermore, technological advancements focused on artificial intelligence, IoT-based connectivity, and analytics boosts the capabilities of physical security solutions.
Market Dynamics:
Global physical security market growth is driven by factors like increasing need to secure critical infrastructure from terrorism and criminal activities, rapid urbanization in developing nations, growing emphasis on workplace safety, and rising adoption of smart city initiatives worldwide. However, high initial installation and maintenance costs of advanced physical security systems can hamper the market growth. Ongoing technological upgrades centered around AI, video analytics, cloud connectivity can expand business opportunities for market players. Furthermore, growing demand for converged security solutions that combine capabilities of both logical and physical security domains according to specific industry needs can drive the market growth.
Key features of the study:
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